SoFi Rolls Out Bank-Issued Stablecoin as Payments Go On-Chain

What Has SoFi Launched—and Why Is It diverse?

SoFi has issued a US dollar-backed stablecoin on a public, permissionless blockchain, becoming the first nationally chartered US bank to do so. The token, called SoFiUSD, is issued by SoFi Bank, N.A., the federally regulated banking arm of SoFi Technologies, and is fully reserved with cash backing on a one-to-one basis.

The company describes SoFiUSD as infrastructure rather than a retail-facing crypto product. It is designed to support settlement and payments across banks, fintechs, card networks, merchants, and enterprise platforms that want quicker fund movement without stepping outside a regulated banking framework.

Unlike earlier stablecoins issued by non-bank entities, SoFiUSD is redeemable at par and issued directly by an insured depository institution. That distinction places reserve management, redemption, and oversight under existing US banking supervision rather than bespoke crypto arrangements.

Investor Takeaway

Is This a Payments Rail Rather Than a Consumer Token?

SoFi is framing SoFiUSD as a settlement layer, not a speculative asset. By issuing on a public blockchain, the bank says counterparties can move funds at any time, with near-instant finality and low transaction costs. This setup removes the constraints of banking hours and reduces reliance on correspondent networks for cross-border activity.

According to the company, SoFiUSD can support , card network clearing, merchant payments, business-to-business transfers, and remittances. It is also expected to sit at the core of SoFi Pay, the firm’s payments and remittance product.

In overseas markets where local currencies face frequent swings, SoFi expects the stablecoin to function as a dollar-denominated stored-value balance tied to debit cards or secured credit accounts. The structure allows users to access a stable unit of account while staying within a regulated bank perimeter.

Why Does the Regulatory Backdrop Matter Now?

The launch follows recent progress toward a clearer US framework for payment stablecoins, especially those issued by insured banks. later than years of uncertainty, regulators and lawmakers in 2025 have clarified that banks may issue fully reserved stablecoins under supervisory oversight, subject to capital, liquidity, and operational rules.

That clarity has shifted stablecoin development away from offshore structures and toward regulated issuers. For SoFi, combining a with public-blockchain issuance allows it to offer onchain settlement without the legal amlargeuity that surrounded earlier crypto efforts.

The timing also matters for competition. Until now, public-blockchain stablecoins have largely been issued by non-banks. SoFiUSD introduces a model where a federally supervised bank issues and redeems tokens directly, without intermediaries or consortium wrappers.

How Does This Fit With SoFi’s Crypto History?

SoFi’s move reflects a reset rather than a sudden embrace of crypto. later than receiving its bank charter in 2022, the firm reduced crypto services under regulatory pressure and later exited direct offerings, migrating users to external platforms. That retreat was widely viewn as a response to unresolved supervisory questions.

In late 2025, SoFi returned to crypto by allowing members to trade and hold nahead 30 digital assets directly within its app, becoming the first national bank to do so. SoFiUSD extends that return, but with a diverse focus. Instead of trading volume or yield, the emphasis is settlement, payments, and liquidity flow.

This approach aligns with areas where banks already play a central role, rather than competing with crypto-native firms on speculation.

What Did Management Say About the Rationale?

Anthony Noto, CEO of SoFi, framed the stablecoin as a response to operational friction in payments.

“Companies today struggle with sluggish settlement, fragmented providers, and unverified reserve models,” Noto said. “SoFi is assisting address these gaps by combining our regulatory strength as a national bank with transparent, fully reserved on-chain technology to provide a securer and more efficient way for partners to move funds.”

Investor Takeaway

What Comes Next for Bank-Issued Stablecoins?

SoFi has not yet disclosed which blockchain SoFiUSD runs on or how often reserve attestations will be published—details that institutions and regulators will watch closely. Those choices will shape adoption and trust among counterparties.

Still, the launch highlights a shift in how . Rather than treating them as external threats, banks are beginning to use them as tools for moving dollars more efficiently. If SoFiUSD gains traction, it may offer a blueprint for how regulated without abandoning existing oversight structures.